Shinpoong Pharmaceutical said that Pyramax, its malaria treatment, is quickly becoming a global drug as both the international procurement and African market is recognizing its superior efficacy.
|Shinpoong's malaria treatment Pyramax|
Pyramax is a next-generation malaria treatment co-developed by Shin Poong Pharm and Medicines for Malaria Venture, a Swiss nonprofit organization, to treat two strands of the disease -- P. falciparum and P. vivax.
The drug is the first and only artemisinin-based combination therapy to gain approval from the European Medicine Agency in 2015 to treat malaria. The drug received approval in Korea the following year.
The World Health Organization has also designated it as an essential medicine, while the U.S. Food and Drug Administration has given the treatment an orphan drug status.
Pyramax has recently been listed as the primary anti-malarial treatment guide in three countries -- Côte d'Ivoire, Congo, and Niger – and the company also sells the product in the private markets of 10 other African countries.
Shinpoonjg agreed with the United States Agency for International Aid (USAID) on Sep. 3 and UNICEF on Sep. 4 to supply Pyramax in the long term.
"In the case of USAID, the selection criteria for procurement items are rigorous, so signing procurement contract is very meaningful," the company said in a press release. "The contract will also provide us with an opportunity to supply essential medicines to countries designated by USAID."